Tamilnad Mercantile Bank gives a special offer of 7.5% interest to senior citizens when the tenor is 456 days. Regular citizens are entitled to receive 7.10% for this tenor.
As per the latest interest rates announced by this private sector bank on January 8, 2026, depositors are entitled to receive an interest rate that ranges from 4% to 7.5% based on the tenor.
Across tenors
Low interest rates are offered on short-term deposits, and high interest rates are offered on long-term deposits. For instance, when the tenor is 1 year, the bank offers 6.8% and 7.3% to regular and senior citizens, respectively.
(Source: https://www.tmb.bank.in)
When the tenor of deposit is between 1 year to 456 days, the interest rates remain the same – 6.8% and 7.3%, respectively. Then the highest interest rate (7.10% and 7.5%) is offered when the tenor is 456 days.
On a long-tenor deposit – above 456 days -- this private sector bank offers 6.60% and 7.10% to regular and senior citizens, respectively. These rates remain constant whether the tenor is 2 years, 3 years, 5 years, or 10 years.
Less than 1 year
When the tenor is ultra short (lower than 1 year), the interest rate offered is relatively lower. On a tenor of 7-14 days, the bank offers only 4% per annum. And when the tenor is 15-29 days, the interest rate offered is 4.25%. It increases to 4.5% when the tenor is between 30-45 days. Further, it increases to 4.80% when the tenor is 46-90 days.
On a tenor of 91-179 days, the bank offers 5.80 percent per annum to regular and senior citizens.
Then, when the tenor is between 180-270 days, the interest rate increases to 6.30%. On a tenor of 271 days to less than 1 year, the bank offers 6.40% per annum.
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